Jul 31, 2011 6:00pm EDT
situation. for the latest we begin with jon karl. jon, you broke the story of this framework late last night. this morning we were all told the leaders were going to inform their rank and file members of the details this afternoon, but hour after hour has gone by. the briefings haven't taken place, there's no final deal. >> the reason why it hasn't happened is because they have a few minor issues to be worked out. i'm told they are relatively minor issues. once that happens, the hard work happens, which is they have to convince enough rank and file democrats and republicans to support the bill to get it passed. a rare sunday on capitol hill. senators rushing to work and even rarer these days, the leaders actutually smiling. they finally have come together. congressional leaders and the president on a debt plan. it looks like this. a debt ceiling increase of up to $2.4 trillion. that's enough to last through the presidential election. agreement on up to $1.2 trillion in spending cuts over 10 years. a new congressional committee to recommend additional deficit reduction of up to $1.5 trillion.